Vietnam needs to ban domestic gold firms from trading bullion.

Vietnam needs to ban domestic gold firms from trading bullion, Bui Kien Thanh, a senior economic expert, told the local online newspaper VnMedia.vn, pointing out the reason that bullion trading will enable speculators to manipulate the local gold market.

Thanh went on, saying that Vietnam would exhaust the foreign currency reserve of the economy to import material gold to be swaged and processed into bullion.

This activity [bullion trading] is in contradiction to the country’s benefits, Thanh emphasized, saying that local gold traders can sell gold jewelries, yet under limit to avoid gold hoarding and speculations in the domestic market.

Source Sophie/ StoxPlus